London Co. of Virginia Sells 12,028 Shares of MBIA Inc. (NYSE:MBI)

London Co. of Virginia lessened its stake in MBIA Inc. (NYSE:MBI) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,579,061 shares of the insurance provider’s stock after selling 12,028 shares during the period. London Co. of Virginia owned about 2.87% of MBIA worth $14,622,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of MBIA in the first quarter valued at about $2,331,000. Quinn Opportunity Partners LLC lifted its stake in shares of MBIA by 59.8% in the first quarter. Quinn Opportunity Partners LLC now owns 145,313 shares of the insurance provider’s stock valued at $1,346,000 after buying an additional 54,404 shares during the period. Valueworks LLC lifted its stake in shares of MBIA by 7.7% in the first quarter. Valueworks LLC now owns 1,180,225 shares of the insurance provider’s stock valued at $10,928,000 after buying an additional 83,875 shares during the period. XTX Topco Ltd lifted its stake in shares of MBIA by 73.3% in the first quarter. XTX Topco Ltd now owns 29,529 shares of the insurance provider’s stock valued at $273,000 after buying an additional 12,487 shares during the period. Finally, State of Tennessee Treasury Department bought a new stake in shares of MBIA in the first quarter valued at about $198,000. Institutional investors own 58.53% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of MBIA in a research note on Thursday, August 17th. They issued a “sell” rating for the company.

MBIA Stock Down 3.9 %

NYSE:MBI opened at $8.05 on Monday. MBIA Inc. has a 12-month low of $7.33 and a 12-month high of $14.00. The firm has a market capitalization of $418.08 million, a PE ratio of -1.60 and a beta of 1.23. The firm has a 50-day moving average price of $8.49 and a 200 day moving average price of $9.12.

MBIA (NYSE:MBI) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.21). The company had revenue of $28.00 million for the quarter, compared to analysts’ expectations of $31.00 million. During the same period in the previous year, the business earned ($0.93) earnings per share. On average, research analysts expect that MBIA Inc. will post -0.6 EPS for the current year.

MBIA Profile

MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through United States (U.S.) Public Finance Insurance, Corporate, and International and Structured Finance Insurance segments. The company issues financial guarantees for municipal bonds, including tax-exempt and taxable indebtedness of the U.S.